SingTel - 1HFY22 Positive Signs Of Earnings Recovery
- SingTel (SGX:Z74)'s 1HFY22 (Apr 21 to Sep 21) core net profit rose 17% y-o-y (up 10% h-o-h) to S$983m, largely in line at 47% of our FY22F forecast (consensus: 44%).
- Singapore Consumer EBIT stayed tepid; ex-JSS, Enterprise EBIT rose 13%
- Better Bharti, Globe and Optus earnings y-o-y, plus higher investment income, more than offset lower Singapore profits.
- Reiterate ADD rating on SingTel with target price of S$2.90. SingTel is our top Singapore telco pick.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
FOONG Choong Chen CGS-CIMB Research | Sherman LAM Hsien Jin CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-11 2021-11-11
Read also CGS-CIMB's most recent report:
2022-11-10 SingTel - Special Dividend Makes Up For Earnings Miss
Target prices by 4 other brokers at SingTel Target Prices.
Listing of broker reports at SingTel Analyst Report.
SingTel Share Price History,
SingTel Dividends & Corp Actions,
SingTel News Articles